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NOVA Chemicals provides update on cost reduction actions
01 Jun '07
1 min read
NOVA Chemicals Corporation defined the impact of actions the company is taking to further improve its business performance. Approximately 90 NOVA Chemicals positions in the U.S. and Europe will be eliminated during 2007 as part of ongoing fixed-cost reductions.
The actions will result in cost savings of U.S. $12 million per year. The company expects to take an after-tax charge of approximately $6 million in the second quarter of 2007 related to these actions.
NOVA Chemicals produces plastics and chemicals that are essential to everyday life. Our employees develop and manufacture materials for customers worldwide that produce consumer, industrial and packaging products.
The actions will result in cost savings of U.S. $12 million per year. The company expects to take an after-tax charge of approximately $6 million in the second quarter of 2007 related to these actions.
NOVA Chemicals produces plastics and chemicals that are essential to everyday life. Our employees develop and manufacture materials for customers worldwide that produce consumer, industrial and packaging products.
NOVA Chemicals Corporation
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